Starting in Final Expense

[jody108]

So I guess California has that asian population you are talking about ... i never get any response here from them ... i guess you have to find your way into their community and they refer you ... i can't see them responding to mailers or cold calls ... yeah?

 

[WinoBlues]

Yes, the Central Valley of California has the 1st or 2nd largest SE Asian population in the Nation. The other state is Wisconsin, I think. The first cases were from several sources. A couple were orphan cases, I also had a Hmong agent for a while. This was back in the late 90s when a lot of the population were new to the US and did not speak a lot of english.
Since then their children have grown up in American schools and are as American as my own. So marketing to them is the same as any others. They are the ones buying on their parents and grandparents. You were spot on about newer immigrants being deeper in family responsibility. You just do not see old SE Asians in nursing homes.

So I guess California has that asian population you are talking about ... i never get any response here from them ... i guess you have to find your way into their community and they refer you ... i can't see them responding to mailers or cold calls ... yeah?

 

[steveadlman]

Guys,

I'm not huge in the Senior market, but my instincts tell me if you are targeting the senior market with final expense as the "door opener"...I think you're gonna get nowhere. I believe the last thing seniors want to think about is their own funeral.

What I think most of the succesful senior marketers are doing is helping seniors with their Medicare solutions and then introduce final expense as an "oh by the way..." kinda deal.

Everybody help me out....is that right?

Does your forum name mean you are an Auburn fan?

 

[somarco]

the black and hispanic populations are going to be your best target ...

Don't they have a rather high lapse ratio?

I know guys who used to work those communities for mortgage protection and they were constantly getting charge backs.

 

[WinoBlues]

I can't speak for the mortgage market. I was speaking more to the Burial/Final Expense Market. "they" keep the policies. They tend to be me much more loyal. I am their Insurance Man. It may be more an issue of economic status than race.

Younger termites (of all stripes) tend to be much more willing to jump to the next guy that comes along. More work, less loyalty.

Don't they have a rather high lapse ratio?

I know guys who used to work those communities for mortgage protection and they were constantly getting charge backs.

 

[jody108]

Winoblues, funny enough ... i went a chines families house today ... the first one in like a year. however, they thought I was crazy when I told them about final expense. They were just concerned about medicare and their part D card. It was an experience, being that I didn't speak chinese and they spoke little english. I couldn't call anyone to help me. Uh oh the baby is crying ... got to go.

 

[Franz Kafka]

Winoblues, funny enough ... i went a chines families house today ... the first one in like a year. however, they thought I was crazy when I told them about final expense. They were just concerned about medicare and their part D card. It was an experience, being that I didn't speak chinese and they spoke little english. I couldn't call anyone to help me. Uh oh the baby is crying ... got to go.

LOL traditional Chinese will shudder at even hearing the words "life insurance" - a bad luck of some sort I think. Others - especially the Japanese, Korean and Indians - like to buy permanent insurance by the boatload. But then again I'm making very broad generalizations. Did you mention it was a "funeral plan"? They might've understood that better.

 

[jody108]

Actually, I went back for their Medicare Part D and got a lead for their neighbor...

2 nice sales.

They weren't Chinese though! But I will take it...

 

[WinoBlues]

Last weekend I went on a company referral to do a policy review on a couple orphan accounts. The couple were both born in China. In their mid 50s and been here about 30 years. Very detailed. And Cash Value is king.

Longest frick'n appointment in my life. Almost 6 hours!!! We went over all their policies. IN DETAIL! In the end they bought a simplified ROP on him (health issues) a Whole life policy on Her. Called her daughter Who bought another ROP (same issue) and I quoted a replacement of a $1,000,000 term policy on her husband. So I made money but she wore me and her calculator out. I will most likely replace their Northwestern policies as well.

Language was a slight problem. Him being blind was a bit more of a challenge.

Winoblues, funny enough ... i went a chines families house today ... the first one in like a year. however, they thought I was crazy when I told them about final expense. They were just concerned about medicare and their part D card. It was an experience, being that I didn't speak chinese and they spoke little english. I couldn't call anyone to help me. Uh oh the baby is crying ... got to go.

 

[stormtracker]

I have tried to do business with several Asian business owners with whom I trade. They act like they are totally blindsided by the idea of doing business with me. I can only surmise that they have a trusted fellow with whom they conduct business like this. I have also approached several Muslim businesses that I used to trade with, and they arrogantly refused to reciprocate. I ordered my agents, right in front of them, to NEVER trade with them again. I guess as long as you can suck American's money, you love it here.